Page 38 - AAE PR REPORT - November 2023

11/21/23, 9:49 AM Al Ansari subsidiary to roll out digital wallet in 2024

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Al Ansari subsidiary to roll out digital wallet

in 2024

Users will be able to receive salaries, remit money, settle bills and access digital services

The Al Ansari digital wallet will offer users purchasing power and access to funds and transaction history for both personal
and business needs. Getty Images

Deepthi Nair
Nov 20, 2023

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Al Ansari Digital Pay, a subsidiary of money exchange and transfer company Al Ansari Financial
Services, is set to introduce a digital wallet in the second quarter of 2024.

The company has received initial approval for a store value facilities and retail payment service
provider license from the Central Bank of the UAE, it said in a statement to the Dubai Financial
Market, where its shares are traded.

A digital wallet stores users’ credit and/or debit card information and links it to a payment
gateway to allow purchases at a point of sale.

https://www.thenationalnews.com/business/money/2023/11/20/al-ansari-subsidiary-to-roll-out-digital-wallet-in-2024/ 1/3